The Japanese Yen (JPY) weakens for the sixth consecutive day against the US Dollar with the USD/JPY pair surging to its highest level in over four months after the Bank of Japan (BoJ) kept its short-term interest rate steady at 0.50% for a fourth consecutive meeting, as widely expected, but the accompanying tone and forward guidance triggered a notable dovish market reaction. At the time of writing, USD/JPY is edging higher, breaking decisively above the key psychological barrier at 150.00 and hovering near 150.72 during American trading hours, up nearly 0.85% on the day. At the BoJ press...
Gold prices (XAU/USD) attracted sellers for the fifth consecutive day and dropped to the lowest level since September 19, around the $2,559-2,558 region during the Asian session on Thursday. The US Dollar (USD) continued its post-election rally and climbed to a new peak so far this year (YTD) on hopes that US President-elect Donald Trump's policies will spur growth. This, in turn, was seen as a key factor that continued to weigh on the USD-denominated commodity. Meanwhile, investors believe that the protectionist tariffs expected from the new Trump administration could increase inflation...
Oil prices slid on Tuesday, giving back early gains in choppy trade after Israel agreed to a ceasefire deal with Lebanon, reducing oil's risk premium. Brent crude futures fell 22 cents, or 0.3%, to $72.79 a barrel at 2:19 p.m. ET, while U.S. West Texas Intermediate crude futures were at $68.74 a barrel, down 20 cents, or 0.29%. Israel's security cabinet has agreed a ceasefire deal with Lebanon, Channel 12 reported. The accord was expected to take effect on Wednesday. On Monday, oil prices slid more than $2 following multiple reports that Israel and Lebanon had agreed to the terms of a...
The dollar index held steady around 106.5 on Thursday after rising for four straight sessions even as the latest US consumer inflation data reinforced bets for a Federal Reserve interest rate cut next week. The CPI report showed that both headline and core inflation rates matched expectations in November, paving the way for the Fed to continue cutting rates. The market is now pricing in a near 100% chance that the Fed will cut by another 25 basis points next week. Investors are also looking ahead to producer inflation data due on Thursday for further direction. Meanwhile, the US dollar...
Silver prices rose above $30 an ounce on Tuesday ( 7/1), hitting a nearly three-week high as the U.S. dollar weakened following reports that the new Trump administration may take a more targeted approach to tariffs. However, President-elect Donald Trump denied the reports, prompting caution among market participants. Looking ahead, investors are focused on key U.S. labor market data this week to assess the outlook for Federal Reserve monetary policy, which could influence the direction of the dollar. Silver is also getting support from a positive economic outlook in China, the world's...